Eskom: Interim Chair Ensures Turnaround Momentum

  • The newly appointed interim Chairman of Eskom, Professor Malegapuru Makgoba, has given assurances that the Board of Eskom remains committed to the execution of the company’s turnaround plan.
  • The Board met for the first time under the new chair last week.
  • A scientist and academic, Professor Malegapuru Makgoba was appointment after the resignation of Jabu Mabuza earlier this month.  Read more

In a statement, Eskom announced that the Board looks forward to continue the challenging task of restoring Eskom back to sustainability under the interim leadership of Professor Makgoba and with the continued support of our Shareholder.

Professor Makgoba said: “We welcome the announcement by His Excellency, President Cyril Ramaphosa last weekend, that the Board would be strengthened and capacitated in line with the commitment made by the shareholder ministry late last year. The Board fully supports the need for this to be done as a matter of urgency to enable us to fulfil our mandate.”

Makgoba expressed the Board’s gratitude to the former Chairman, Mr Jabu Mabuza for his leadership over the past two years, saying he has made an exceptional contribution to Eskom and South Africa during his tenure, which was characterized by his firm commitment to bring stability to our company while restoring good governance at a very difficult time. His leadership was exemplary, displaying consistent values of honor and integrity which have been extremely valuable to Eskom.

“We would also like to express our confidence in our newly appointed Group Chief Executive, André de Ruyter, as he embarks on the mammoth task of stabilising, leading and transforming the utility. He and the Board will shortly be deliberating on our action and implementation plans to address the challenges and issues facing Eskom, we have made the diagnosis and now is the time for treatment, no matter how radical, how bitter or how uncomfortable to be administered going forward,” Makgoba concluded.’ Read more 

Eskom interim results were positive but the state owned energy utility has not managed to stem the tide of increasing debt now sitting at R454 billion. Read more  

Related news: Eskom to be Unbundled 

Author: Bryan Groenendaal

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